California Attorney General Harris began pushing for California to pass the "Homeowner Bill of Rights," a collection of six bills that would make significant changes in the way the state regulates mortgages and protect homeowners from abusive practices.
Harris was scheduled to testify before the California Assembly's Senate Banking and Finance Committee on Monday; however, only moments before she was supposed to appear, both of the bills she was discussing were pulled by the committee chairman, Democrat Mike Eng of Monterey Park.
The pair of laws Harris was scheduled to discuss aim to increasing protections for mortgage borrowers by prohibiting lenders from foreclosing on a property while simultaneously negotiating a loan modification on that property and also simplifies loan documentation by establishing a single, standardized contract for foreclosures and loan restructuring.
Please ensure that the banking committee will not block homeowners rights and let Californian's leave vulnerable to the abusive practices that were perpetrated by the banking industry and crashed our economy in 2008 ! Demand their signatures on this important document !